Hurricane Sally is not expected to cause a major insurance loss – compared to events such as the ongoing wildfires in California, Oregon, and Washington, or Hurricane Laura, according to AM Best. As the storm was more of a flood …
Hurricane Sally’s historic flooding of Florida and Alabama this week marked the eighth named storm to strike the continental U.S. this year, leaving the tally just one short of a record that dates back more than a century. With 10 …
GULF SHORES, Ala./HOUSTON – As an Alabama resident, Toby Wallace has seen his fair share of hurricane damage working for the U.S. Federal Emergency Management Agency, where he handles flood insurance claims. But that did not prepare him for Hurricane …
A Japanese bulk carrier that ran aground on a reef in Mauritius last month threatening a marine ecological disaster around the Indian Ocean island has broken apart, authorities said on Saturday. The condition of the MV Wakashio was worsening early …
Insurance claims toward the massive explosion at the Port of Beirut have so far reached $425 million, according to a minister. Caretaker Economy Minister Raoul Nehme said 2,500 claims have been filed, according to the presidency’s Twitter account. The ministry …
A Japanese bulk carrier struck a coral reef off the Indian Ocean island nation of Mauritius on July 25, spilling about 1,000 tonnes of fuel oil and triggering a state of “environmental emergency.” Scientists say the spill is the country’s …
Insurers in the Middle East are expected to absorb a large part of the losses from Beirut’s explosion last week with Lloyd’s of London and other international players expected to be less exposed, insurance industry sources said. Lebanese officials have …
Some of the world’s biggest reinsurers are bracing for potential losses running into tens of millions of euros after last week’s explosion that ravaged much of downtown Beirut. Property damage alone from the blast, which killed more than 150 people …
Global insured property losses from disasters were US$31 billion in the first half of 2020, up from US$23 billion during the same period last year, according to Swiss Re Institute’s sigma estimates. Natural catastrophes accounted for US$28 billion of H1’s …
Mauritius is seeking compensation from the owners of the cargo carrier that run aground and spilled oil off its coast, causing the island nation’s worst ever ecological disaster. More than half of about 1,000 tons of fuel that leaked from …
